What is blockchain technology _ blockchain technology analysis

What is the "blockchain" technology? As a long-term research blockchain technology and cutting-edge research and development company in the digital currency industry, let's briefly talk about some of our views.

definition

Blockchain refers to the technical solution of collectively maintaining a reliable database through decentralization and de-trust. The technical solution mainly allows a plurality of nodes participating in the system to generate a data block (block) associated with each other by using a cryptographic method, and each data block contains all the information exchange data of the system for a certain period of time, and generates The data fingerprint is used to verify the validity of its information and to link the next database block.

Blockchain is a generic solution similar to NoSQL (non-relational database). It is not a specific technology. It can implement blockchain technology through many programming languages ​​and architectures. There are also many ways to implement the blockchain. The current common ones include POW (Proof of Work), POS (Proof of Stake), DPOS (Delegate Proof of Stake).

The concept of blockchain was first proposed in the paper "Bitcoin: A Peer-to-Peer Electronic Cash System" by the author who claimed to be Satoshi Nakamoto (or group). Therefore, Bitcoin can be regarded as the first application of the blockchain in the field of financial payment.

What is blockchain technology _ blockchain technology analysis

What is blockchain technology?

Blockchain is a distributed shared accounting technique. The thing to do is to enable the participating parties to establish a trust relationship at the technical level. The blockchain can be roughly divided into two levels, one is to do the underlying technology of the blockchain; the other is to do the upper layer of the blockchain application, that is, based on the transformation, optimization or innovative application of the blockchain. What is the core meaning of the blockchain? Our understanding is that the core meaning of the blockchain is to establish data credit between the participants, and to create a unilateral ecological common guarantee through a unilateral confrontation. This is a system. This kind of establishment can end the problem before the blockchain. Before the blockchain, there is no new sharing when data sharing. Even if you do orientation, it just gives you an interface. After the blockchain has been made, let the participants realize the sharing of credit.

The blockchain has been applied in several areas. The first digital asset field, in addition to some of the points, check-in cards, and various other assets we see, has the process of asset dataization.

The second area is the field of trade finance. Because the trade finance field is originally a multi-participation and multi-participation approach, blockchain can greatly improve the efficiency of the middle, making many of the original alternatives.

The third area uses equity, which is like a regional equity trading center. The purpose is to solve the convenience between equity and trading, and to make it relatively convenient for circulation. At present, the multi-center system of blockchain can indeed improve efficiency and reduce costs.

What is blockchain technology _ blockchain technology analysis

How is blockchain technology analytical blockchain technology formed?

At present, the term blockchain technology is very popular. Many people will take out the blockchain book and explain how to change the existing financial model. However, it is very clear that the blockchain can be clearly explained. less.

The blockchain is an important concept of Bitcoin. The currency is linked to the Internet Finance Lab of Wudaokou Finance College of Tsinghua University and the “2014-2016 Global Bitcoin Development Research Report” released by Sina Technology. The blockchain is the underlying technology of Bitcoin. And the infrastructure. Essentially a decentralized database, and the underlying technology of Bitcoin. A blockchain is a string of data blocks generated by cryptography, each of which contains a bitcoin network. The information of the transaction, used to verify the validity of its information (anti-counterfeiting) and generate the next block.

1. The blockchain is a distributed database (system) placed in a non-secure environment;

2. The blockchain uses cryptographic methods to ensure that existing data cannot be tampered with;

3. The blockchain uses a consensus algorithm to reach consensus on new data;

What is blockchain technology _ blockchain technology analysis

Keywords: decentralization

This is one of the most frequently mentioned words in blockchain technology, and in the past it was recorded and maintained by third parties, and now each transaction participant has the right and obligation to maintain data on the blockchain. Everyone has a book that records all the complete data, and your credit will no longer depend on third parties, and all trading participants can prove it for you.

Decentralized meaning: You have to buy a mobile phone on a treasure, the transaction process is: you call the money to Alipay - Alipay after the payment to notify the seller of the delivery - seller delivery - you confirm the receipt - Alipay to the money Seller.

What is blockchain technology _ blockchain technology analysis

In this process, although you are dealing with the seller, the deal involves third parties other than you and the seller, Alipay, and the transactions between you and the seller are all around Alipay. Therefore, if the Alipay system has a problem, it will cause the transaction to fail. And although you simply bought a mobile phone, you and the seller must provide extra information to the third party.

The centralized approach is much simpler. You only need to exchange money and mobile phones with the seller. Then both parties claim to have completed the transaction and they are OK. It can be seen that decentralization is more convenient in certain situations, and there is no need to worry about information leakage that is not related to the transaction. Decentralization is the subversive feature of blockchain technology. It does not require a centralization agent, and realizes a point-to-point direct interaction, making the information interaction mode of high-efficiency, large-scale and non-centralized agents a reality.

The blockchain has the characteristics of large-scale expansion, transparent data, and data tampering. In particular, it can effectively solve the trust problem between strangers, so it can be extended to all digital fields, such as digital currency, payment clearing, and digital. Bills, proof of equity, credit information, government services, medical records, etc. I can imagine that if the blockchain technology is promoted on a large scale, how will the future life change dramatically?

At present, Bitcoin is the first practical application of blockchain technology and has been widely accepted and used around the world.

After decentralization, there is no authoritative centralization agent in the whole system, and the credibility and accuracy of information will face problems.

In this case, because of peer-to-peer communication, it is impossible for both parties to achieve information consistency in this case. The rigor is that "in distributed computing, it is impossible to achieve consistency on asynchronous systems and unreliable channels."

What is blockchain technology _ blockchain technology analysis

Information data cannot be forged

From a rigorous point of view, information data can be forged as long as it is controlled by people. But blockchain technology makes the difficulty of forgery almost impossible, unless most trading nodes cooperate with you to forge a transaction data, it is difficult to know that 3 or 4 people collude, it is necessary to complete a tampering in the blockchain. The possibility is almost zero.

Information is irrevocable and irreversible

Because the data on the blockchain is transparent and transparent, each record should be physically available for the node to call, so all data updates must be irreversible. To put it simply, it can only be added, cannot be modified, and cannot be deleted. Because blockchain technology is very important, the continuous stacking of data blocks always forms a chain, and any modification or deletion behavior is not allowed.

The core value of the blockchain is that no third party will be required to provide credit endorsements between strangers, regardless of whether the third party is a human or an organization, because the data on the blockchain is fully capable of proving credit. Therefore, all services that rely on providing credit intermediaries will be replaced by blockchain technology. People can never trust each other through one side, but if the blockchain can show people's behavior in front of you, right? The importance of your own decision-making is self-evident. Have you realized the value of the blockchain?

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